28 December 2009 - Gide Loyrette Nouel Paris advises Morgan Stanley Real Estate Fund on the combination between Icade and Compagnie la Lucette:

Gide Loyrette Nouel has advised Morgan Stanley Real Estate Fund V (MSREF) on the acquisition by Icade of MSREF's 94.5% stake in Compagnie la Lucette, a French property company listed on Euronext Paris (Segment B) and which benefits from the SIIC regime. 
 
The first step of this transaction was the sale by MSREF to Icade of 35% of the share capital of Compagnie la Lucette in consideration for a price of EUR 9.61 per share, which took place on 24 December 2009, to be followed by a contribution of MSREF's remaining stake (59.5%) on the basis of the same valuation of the Compagnie la Lucette shares, in exchange for Icade shares and a reinvestment by MSREF by way of a reserved share capital increase, both of which will occur no later than 15 March 2010.  

Upon the completion of this transaction, MSREF will hold approximately 4.5% of Icade's share capital, making it the second-largest shareholder of Icade after Caisse des Dépôts et Consignations.

Legal counsel to MSREF:
Gide Loyrette Nouel A.A.R.P.I. (partner Didier G. Martin and Edgar Nguyen for corporate aspects; partner Arnaud de Pesquidoux for real estate and financing aspects; partner Joëlle Salzmann and François Doridou for antitrust aspects).